Foreign media reports that Dogecoin has fallen approximately 5.54% in the past 24 hours, returning to a historically significant accumulation range. The article suggests that this level has historically corresponded to several substantial price increases, prompting the market to focus on whether DOGE has once again entered a critical observation phase.

Price approaching the lower edge of CVDD

The report mentions that DOGE is currently trading near the lower edge of the CVDD channel, roughly in the $0.10 to $0.11 range. This indicator is often used to observe long-term holding costs and historically undervalued areas; when the price approaches the lower edge, it is usually seen as an accumulation signal.

Historically, the DOGE has repeatedly strengthened after stabilizing at similar levels. Before the major rallies of 2017 and 2021, the market had accumulated strength in similar structural areas. The 2024 rebound also began in a similar range in mid-2023, but did not break historical highs at that time.

Weekly volatility continues to narrow

The article also mentions that the DOGE weekly chart trend is largely consistent with the CVDD channel position, while the Bollinger Bands continue to narrow. Narrowing Bollinger Bands typically indicate decreased volatility and a market entering a consolidation phase; the short-term direction still needs further confirmation.

Furthermore, the MACD indicator showed an upward crossover and turned green, which the article interpreted as a sign of bulls repositioning themselves. However, the report also pointed out that if no new funds flow in, the DOGE indicator may continue to decline, and a reversal cannot yet be confirmed.

There has been no significant improvement in the ETF market yet.

In addition to the price structure, the article also mentions that Kalshi has launched perpetual futures products including DOGE, SOL, and XRP. The report suggests that if these contracts are subsequently approved, trading volume for these assets could increase significantly.

However, there has been no corresponding improvement in the ETF market. The article states that on June 1st, amidst a generally weak ETF market, the Dogecoin ETF showed no significant activity, and similar trends were observed in related products such as LINK, DOT, LTC, AVAX, and HBAR. This indicates that short-term sentiment remains cautious.